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EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

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EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

EFCC Warns Businesses Against Aiding Criminals, Urges Compliance with Money Laundering Act

The Economic and Financial Crimes Commission (EFCC) has called on Designated Non-Financial Businesses and Professions (DNFBPs) to ensure full compliance with the Money Laundering Prohibition and Prevention Act of 2022.

This warning was issued during a sensitization programme organized by the EFCC’s Special Control Unit Against Money Laundering (SCUML).

EFCC’s Acting Director for Lagos, Michael Wetkaz, highlighted the global efforts to combat terrorism and warned businesses not to provide a safe haven for criminal elements. “The financial institutions have been regulated, and terrorism has become a global concern. Nations have tightened measures to ensure criminals have no space to operate,” Wetkaz said.

He urged DNFBPs, which include casinos, real estate agents, dealers in precious metals and stones, lawyers, and other professionals, to be vigilant and report any suspicious activities. “If you allow these criminal activities to pass through your businesses, it will worsen the insecurity situation in the country,” he cautioned.

Aminu Ahmed, an Assistant Commander of the EFCC, reminded operators to report currency transactions above N5 million for individuals and N10 million for corporate bodies. He emphasized the importance of appointing compliance officers and adhering to anti-money laundering regulations.

The training also covered topics such as beneficial ownership, financial sanctions, and reporting requirements for Politically Exposed Persons (PEPs), with ACE II officer Folasade Oluwasanya stressing the importance of awareness in curbing financial crimes.

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

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Trump Victory Sparks Celebration in Florida, Disappointment for Harris Supporters

Jubilant supporters celebrated Donald Trump’s apparent victory in Florida early Wednesday as he claimed a return to the White House, despite most major news networks holding off on officially calling the race.

At an event in Palm Beach, Trump supporters reveled in the win projected by Fox News, cheering as the former president declared a “political victory that our country has never seen before.”

“I feel extraordinary,” said 68-year-old supporter Ted Sarvanis, dancing with arms in the air. “This is the greatest American political story in the history of the country.”

Joined by running mate J.D. Vance, Trump took the stage, celebrating his projected win. The atmosphere at the convention center was electric, with supporters sporting “Make America Great Again” caps and mingling in formal attire and Trump-themed clothing.

“I feel relieved. I was a little bit scared because you never know how things are going to turn out,” said Stacy Kurtz, 45.

In contrast, a far different scene unfolded for Vice President Kamala Harris’s supporters at Howard University in Washington, where they were hoping for a Democratic win.

As the night wore on and Trump gained electoral votes in key battleground states, disappointment swept through the crowd.

“I am scared, I am anxious now,” said Charlyn Anderson earlier in the evening.

Democratic watch parties in places like Atlanta and Pennsylvania grew somber as results rolled in, with Lynn Johnson, 65, expressing concern, “It’s going to be dangerous if he wins. I don’t feel safe.”

While Trump’s supporters celebrated a comeback, the mood among Democrats was marked by worry and disbelief.

“He’s a terrible candidate, so it just doesn’t make sense,” said Harris supporter Ken Brown.

The contrasting scenes highlighted the nation’s deep political divide on election night.

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

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Tinubu Congratulates Trump on Historic Re-Election, Eyes Stronger U.S.-Nigeria Ties

President Bola Tinubu has extended warm congratulations to President Donald Trump on his re-election as the 47th President of the United States, expressing optimism for stronger ties between Nigeria and the U.S. in an era of global challenges.

The congratulatory message, issued by Tinubu’s Special Adviser on Information & Strategy, Bayo Onanuga, emphasises the Nigerian leader’s hopes for a renewed partnership between the two nations.

Following his victory on Wednesday, Trump pledged to “heal” the country, marking a stunning political comeback as he edged past Kamala Harris in a closely contested election.

Tinubu, in his message, affirmed, “Together, we can foster economic cooperation, promote peace, and address global challenges that affect our citizens.”

Tinubu highlighted that Trump’s return to the White House reflects the trust and confidence of the American people in his leadership, praising their commitment to democracy.

Given Trump’s experience from 2017 to 2021 as the 45th President, Tinubu foresees a new era of “earnest, beneficial, and reciprocal economic and development partnerships between Africa and the United States.”

The Nigerian President also expressed confidence that Trump’s leadership will contribute to peace and prosperity worldwide, acknowledging America’s significant influence on global affairs.

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Peter Obi Calls for Lasting Solution to Nigeria’s Power Crisis

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Peter Obi Calls for Lasting Solution to Nigeria’s Power Crisis

Former presidential candidate Peter Obi has urged the federal government to find lasting solutions to Nigeria’s ongoing power crisis following yet another national grid collapse, leaving Nigerians in darkness.

Posting on his X handle, Obi highlighted the frequency of grid failures, noting that since January 2024, the grid has collapsed ten times, with three incidents occurring in October alone.

Contrasting Nigeria’s power struggles with South Africa’s recent achievements, Obi stated, “Just a few days ago, on the 25th of October, South Africa, which was Africa’s second-largest economy until recently, celebrated seven months of uninterrupted power supply. South Africa generates about 40,000 MW of electricity, while Nigeria struggles to generate and distribute just 10% of that.”

Obi criticised the tendency to frame Nigeria’s electricity issues through tribal or religious lenses, stressing, “Is there any tribe in Nigeria that enjoys uninterrupted power supply like South Africa? I am labelled a tribal bigot. When I ask if any religion enjoys special privileges in this crisis, I am called a religious bigot. But I will continue to speak the truth about our situation today.”

He urged Nigerians to set aside “primordial sentiments” and focus on electing leaders capable of advancing development goals. “The solution lies not in tribal or religious affiliations but in visionary leadership and a shared commitment to progress,” Obi stated.

He emphasised the need to prioritize investments in critical areas such as health, education, and electricity to uplift Nigerians and shift from a consumer-driven economy to a productive one.

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